Smartcat - Portfolio Checkup

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Topic: Smartcat - Portfolio Checkup

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Vivek Sukhani
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Joined: 23/Jul/2006
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Posts: 6675

Posted: 30/Jul/2009 at 9:16am

If possible, look at Medicaps....this company may also interest you.

Jai Guru!!!

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Vivek Sukhani
Senior Member

Joined: 23/Jul/2006
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Posts: 6675

Posted: 31/Jul/2009 at 4:22pm

Originally posted by smartcat

I actually checked Medicaps 2 weeks back and gave it a pass. Although dividends have been regular, there is neither topline growth nor bottom growth in the last few years.

In the same 'packaging' space for the pharma industry, I chose another critter called Natural Capsules. www.naturalcapsules.com. Since Medicaps calls itself the second largest manufacturer of capsules in India, I'm assuming Natural capsules is the market leader.

Market Cap: Rs. 12 crores

P/E: 3

Dividend Yield: 4.6%

RoE: 22%

FY09 Sales/Profits: Rs. 26 crores and Rs. 4 crores

Last 4 Yr Sales Growth: 21% CAGR

Last 4 Yr Profit Growth: 27% CAGR

Dividend Per share from FY05 to FY09: Rs. 1.00, 1.00, 1.00, 1.00, 1.20

At the pace at which you are locating companies and throwing waste into dustbins, two things are bound to happen:

1.You will be soon out of your business, and become a full time investor

2.Your dustbin will get full to the brim.

By the way, this company of yours look better than Medicaps.

Jai Guru!!!

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smartcat
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Joined: 29/Mar/2007
Location: India
Online Status: Offline
Posts: 4243

Posted: 31/Jul/2009 at 4:38pm

hehe.. I have also bought IKF Finance, Jupiter Bioscience, NCL Industries and Deepak Fertilizers in July. All the 4 companies do well on "my parameters" like P/E, dividend yield, RoE, Sales & profit growth and regularity of dividends.

For others who don't know what natural capsules or medicaps is about - they basically make that plasticky-type drug capsules made out of gelatin.

- Gelatin capsules are used for drugs that are either smelly or taste terrible. Gelatin capsules mask the taste & smell.

- Gelatin capsules are more "colourful" and can even be made transparent. Ideal for children's medicine.

- Good for branding.

Since Indian pharma stocks are either too expensive or end up making huge MTM forex losses, Natural Capsules is a safe bet. These guys just keep making money.

Edited by smartcat - 31/Jul/2009 at 4:47pm

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subu76
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Joined: 25/Feb/2008
Online Status: Offline
Posts: 5709

Posted: 31/Jul/2009 at 6:14pm

Smart cat do have a look at SRF as well.

The market seems to be assuming that the dividend is under threat but that hardly seems to be the case.

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Hitesh Shah
Senior Member

Joined: 12/Oct/2008
Online Status: Offline
Posts: 3656

Posted: 31/Jul/2009 at 9:00pm

Originally posted by smartcat

....

- Gelatin capsules are used for drugs that are either smelly or taste terrible. Gelatin capsules mask the taste & smell.

- Gelatin capsules are more "colourful" and can even be made transparent. Ideal for children's medicine.

- Good for branding.....

Until some fundoo group objects to gelatin based on its most common origin Wink

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smartcat
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Joined: 29/Mar/2007
Location: India
Online Status: Offline
Posts: 4243

Posted: 31/Jul/2009 at 9:10pm

hee hee.. I hope the director of that fundoo group gets swine flu.

Then (s)he won't have too many issues with swallowing gelatin.

Smart cat do have a look at SRF as well.

yeah, SRF is in my list of companies to be researched. Like the diversified nature of its business.

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subu76
Senior Member

Joined: 25/Feb/2008
Online Status: Offline
Posts: 5709

Posted: 03/Aug/2009 at 5:06pm

Originally posted by smartcat

yeah, SRF is in my list of companies to be researched. Like the diversified nature of its business.

Great....i'll wait for some analysis from you whenever possible.... this one is too complex for me to understand...

One data point is that they can generate about 3.8 million carbon credits per annum for some years....that's roughly 320 cr/year as per last week's price on MCX for carbon credits...

Offcourse we already know they bought back shares and increased dividends in a bad year......

The management is slightly suspect........donno why...but that's what people seem to think.

Edited by subu76 - 03/Aug/2009 at 5:10pm

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smartcat
Senior Member

Joined: 29/Mar/2007
Location: India
Online Status: Offline
Posts: 4243

Posted: 03/Aug/2009 at 5:46pm

Bought SRF today - will start a new thread for it under "Stock Synopsys" later - it is a pretty big company.

Did the promoters do something to rig up the stock price in 2004-2005? It went up 8 times in a short period of time, and since then, it has gone down like a slide in a theme park.

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